Date | Account titles and explanation | Debit | Credit | |||||
Jan 1. | Cash | 12000 | ||||||
Common stock | (2000*5) | 10000 | ||||||
Paid-in capital in excess of par-common stock | (Plug) | 2000 | ||||||
(Common stock issued) | ||||||||
Jan 31. | Treasury stock | 22000 | ||||||
Cash | 22000 | |||||||
(Purchased own shares) | ||||||||
Feb 1. | Dividends | (Note:1) | 25000 | |||||
Dividend payable | 25000 | |||||||
(Dividend declared) | ||||||||
Feb 28. | Dividend payable | 25000 | ||||||
Cash | 25000 | |||||||
(Dividend paid) | ||||||||
Mar 1. | Cash | 12000 | ||||||
Treasury stock | (22000/2000)*1000 | 11000 | ||||||
Paid-in capital from treasury stock | (Plug) | 1000 | ||||||
(Treasury stock re-issued at above cost) | ||||||||
Mar 30. | Cash | 9000 | ||||||
Paid-in capital from treasury stock | 1000 | |||||||
Paid-in capital in excess of par-common stock | (Plug) | 1000 | ||||||
Treasury stock | (22000/2000)*1000 | 11000 | ||||||
(Treasury stock re-issued at below cost) | ||||||||
Apr 1. | Dividends | (Note:2) | 26000 | |||||
Dividend payable | 26000 | |||||||
(Dividend declared) | ||||||||
Apr 30. | Dividend payable | 26000 | ||||||
Cash | 26000 | |||||||
(Dividend paid) | ||||||||
May 1. | Land | 11000 | ||||||
Common stock | (1000*5) | 5000 | ||||||
Paid-in capital in excess of par-common stock | (Plug) | 6000 | ||||||
Note:1 | ||||||||
Dividend is declared on shares outstanding | ||||||||
Shares outstanding=Shares at the beginning+Shares issued-Shares purchased=50000+2000-2000=50000 shares | ||||||||
Dividend=50000*0.50=$ 25000 | ||||||||
Note:2 | ||||||||
Dividend is declared on shares outstanding | ||||||||
Shares outstanding=Shares at the beginning+Shares issued-Shares purchased+Treasury stock reissued=50000+2000-2000+2000=52000 shares | ||||||||
Dividend=52000*0.50=$ 26000 | ||||||||
al LTE 2:04 X AC 112 Assignment #1.pdf ... AC 112 Ausi Punde 2.000 shared 2...
5:34 1 lLTE : X A C 112 Assignment #3.pdf AC 112 Assignment #3 Investments Carter Co. had the following transactions during the year, jan. 1 Purchased 1,000 shares of Apple stock for $50,000. This purchase represents less than 20% and is classified as available-for-sale. Jan 30 Apple declared and paid a 5.15 per share dividend. Feb. 1 Sold merchandise to the Sumito Co. of Japan. The merchandise was sold for 2,000,000 yen. Payment is due in 28 days. The...
Ansignments - (2020) RUSA x Microsoft Word - Quis 33.dor x + → C Tile C:/Usershockshop/Downloads/Assignment%20%233%20-20BU512339%20(1).pdf Assignment #3 BUSI 2339 Answer the following questions: 1. XYZ Manufacturers plans to repurchase $10 million worth of common stock with borrowed funds. The following information is provided: Repurchase price-525 Net income after tax- $120 million EPS before repurchase = $1.5 Glven that the company finances the repurchase by borrowing at an after tax interest rate of 13.5%, what is the EPS alter the...